Connecticut

Joint Venture Acquires 450,000 SF Mixed-Use Property in West Hartford, Connecticut

by Taylor Williams May 25, 2021

WEST HARTFORD, CONN. — Blue Back Capital Partners LLC, a joint venture between Greenwich, Conn.-based Charter Realty & Development Corp. and Miami-based Rialto Capital, has acquired Blue Back Square, a 450,000-square-foot mixed-use property in West Hartford. The property was built in 2006 and includes 215,000 square feet of retail, restaurant and entertainment space, as well as 200,000 square feet of office and medical office space. Retail anchor tenants include Crate & Barrel, Cinepolis Cinemas, West Elm and Barnes & Noble. The seller was Starwood Retail Partners, which purchased the property in 2013. Chris Angelone, Zach Nitsche, Nat Heald, Dave Monahan and Sean O’Neill of JLL represented the undisclosed seller in the transaction.

May 25, 2021

Valley-Tool-&-Manufacturing-Milford-Connecticut

Connecticut Development Industrial Northeast

Valley Tool & Manufacturing to Open 100,000 SF Industrial Facility in Milford, Connecticut

by Taylor Williams May 18, 2021

MILFORD, CONN. — Valley Tool & Manufacturing LLC has acquired 8.1 acres in Milford, located in the southern coastal part of the state, for the development of a 100,000-square-foot industrial facility. Jon Angel of Angel Commercial LLC represented Valley Tool & Manufacturing in its site selection and acquisition of the land assemblage, which consists of seven parcels that were purchased in two separate transactions. Construction is underway, and the facility is expected to open by the end of the year.

May 18, 2021

Alvista-Willow-Creek-Meriden-Connecticut

Acquisitions Connecticut Multifamily Northeast

CBRE Negotiates $34.8M Sale of Alvista Willow Brook Apartments in Meriden, Connecticut

by Taylor Williams May 17, 2021

MERIDEN, CONN. — CBRE has negotiated the $34.8 million sale of Alvista Willow Brook, a 180-unit apartment community in Meriden, located roughly midway between Hartford and New Haven. Built in 2005, the property offers amenities such as a fitness center, pool and a leasing office. A CBRE team of Jeffrey Dunne, Simon Butler, Biria St. John, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the seller, an affiliate of Phoenix Realty Group, in the deal. The team also procured the buyer, Beachwold Residential.

May 17, 2021

Acquisitions Connecticut Multifamily Northeast

ER Properties Acquires 186-Unit Apartment Community in West Hartford, Connecticut

by Taylor Williams May 11, 2021

WEST HARTFORD, CONN. — ER Properties Fund LLC has acquired Westgate Apartments, a 186-unit multifamily community in West Hartford. Built on 10 acres in 1962, the property offers studio, one- and two-bedroom units, as well as a pool and a fitness center. Victor Noletti, Eric Pentore and Wes Klockner of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, BFN Westgate LLC, and procured ER Properties as the buyer.

May 11, 2021

Connecticut Loans Northeast Office

Axiom Capital Arranges $10.3M Loan for Refinancing of Office Building in Westport, Connecticut

by Taylor Williams May 4, 2021

WESTPORT, CONN. — Finance and advisory firm Axiom Capital Corp. has arranged a $10.3 million loan for the refinancing of an office building in Westport, located in the southern coastal part of the state. The building features proximity to Interstate 95 and U.S. Route 1 and is leased to tenants such as Northwestern Mutual Life Insurance, Charter Oak Equity and Lime Rock Partners. The nonrecourse loan was structured with a five-year term and a fixed interest rate. The borrower and direct lender were not disclosed.

May 4, 2021

Acquisitions Connecticut Multifamily Northeast

NE Private Client Group Arranges Sale of Two Connecticut Multifamily Assets Totaling 39 Units

by Taylor Williams April 26, 2021

DANBURY AND BRANFORD, CONN. — Northeast Private Client Group (NEPCG) has arranged the sale of two multifamily assets in Connecticut totaling 39 units. Willow Park Apartments is a 21-unit complex in Danbury, and Cedar Street Apartments is a 19-unit property in Branford. The properties sold for a combined $5.2 million. Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno and John Lockhart of NEPCG represented the buyer and seller, both of which requested anonymity, in the deals.

April 26, 2021

Acquisitions Connecticut Multifamily Northeast

Northeast Private Client Group Brokers Sale of 52-Unit Multifamily Asset in Hamden, Connecticut

by Kristin Harlow April 23, 2021

HAMDEN, CONN. — Northeast Private Client Group (NEPCG) has brokered the sale of Willow Woods Apartments, a 52-unit multifamily asset in Hamden, located outside of New Haven. The sales price was $6.4 million, or approximately $126,000 per unit. The property was built in 1973 and features one-, two- and three-bedroom residences with flat- and townhouse-style configurations. Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno and John Lockhart of NEPCG represented the buyer and seller, both of which requested anonymity, in the deal.

April 23, 2021

Connecticut Leasing Activity Northeast Office

Beiersdorf Inc. Signs 27,942 SF Office Lease in Stamford, Connecticut

by Kristin Harlow April 23, 2021

STAMFORD, CONN. — Beiersdorf Inc., the US affiliate of global skin care company Beiersdorf AG, has signed a 27,942-square-foot office lease at Stamford Plaza, a 1 million-square-foot campus in southern Connecticut. Margaret Carlson represented the landlord, RFR Realty, on an internal basis, along with agents from Cushman & Wakefield. Edward Tonnessen and Paul Tortora of JLL represented the tenant.

April 23, 2021

Connecticut Leasing Activity Northeast Office

PricewaterhouseCoopers Signs 19,450 SF Office Lease in Stamford, Connecticut

by Taylor Williams April 22, 2021

STAMFORD, CONN. — Global accounting firm PriceWaterhouseCoopers (PwC) has signed a 19,450-square-foot office lease at One Stamford Plaza in southern Connecticut. Margaret Carlson represented the landlord, RFR Realty, on an internal basis, along with agents from Cushman & Wakefield. Paul Kaufman of JLL represented PwC, which will occupy the entire eighth floor of the building.

April 22, 2021

Acquisitions Connecticut Multifamily Northeast

CBRE Negotiates $84.3M Sale of The Fairfield Apartments in Connecticut

by Taylor Williams April 20, 2021

STAMFORD, CONN. — CBRE has negotiated the $84.3 million sale of The Fairfield Apartments, a 263-unit multifamily community in the southern coastal Connecticut city of Stamford. Built in 1996, the property offers amenities such as a clubroom, caterer’s kitchen, three private courtyards, a pool, fitness center and outdoor grilling areas. The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the institutional seller in the transaction, while also procuring San Francisco-based FPA Multifamily as the buyer.

April 20, 2021

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